MTG's India arm PlaySimple files draft papers for Rs 3,150 cr IPO

New Delhi, Apr 24 (PTI) Swedish gaming firm Modern Times Group MTG AB on Friday said its wholly-owned Indian subsidiary PlaySimple Games Ltd has filed draft papers with the market regulator to launch a Rs 3,150 crore Initial Public Offering (IPO).

The IPO will be entirely an Offer For Sale (OFS), with MTG acting as the promoter and selling shareholder. As a result, the proceeds from the issue will accrue to MTG and not to PlaySimple, according to the draft papers filed on Thursday.

As per the draft papers, the offer size is expected to be up to Rs 3,150 crore (about USD 350 million). The final issue size may vary within permissible limits and will be decided closer to the opening of the offer.

MTG, however, said it intends to retain majority ownership in PlaySimple after the completion of the IPO.

The timing of the public issue will be determined in due course, the company added.

MTG is an international gaming group headquartered in Sweden, with a portfolio of gaming companies focused on casual and mid-core segments, and its shares are listed on Nasdaq Stockholm.

PlaySimple is a global mobile entertainment company focused on casual mobile games, aiming to deliver engaging daily experiences to players worldwide.

Founded in 2014, the company has emerged as a leading player in the word games segment, with a growing portfolio of over 30 live casual puzzle titles. Its games are available in more than 110 countries across North America, Europe, Asia and other international markets.

The company’s popular offerings include titles such as Word Search Explorer, Daily Themed Crossword, Crossword Jam, Word Trip and Word Jam, catering to users across age groups and skill levels. PTI SP DR DR